KLP Kapitalforvaltning AS Buys Shares of 22,500 Vaxcyte, Inc. (NASDAQ:PCVX)

KLP Kapitalforvaltning AS bought a new position in shares of Vaxcyte, Inc. (NASDAQ:PCVX) during the fourth quarter, Holdings Channel reports. The institutional investor bought 22,500 shares of the company’s stock, valued at approximately $1,842,000.

A number of other large investors also recently modified their holdings of the business. Diversified Trust Co acquired a new stake in Vaxcyte during the fourth quarter worth about $1,433,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Vaxcyte by 23.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 26,428 shares of the company’s stock valued at $2,163,000 after purchasing an additional 4,962 shares during the last quarter. TimesSquare Capital Management LLC raised its position in shares of Vaxcyte by 53.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 413,637 shares of the company’s stock worth $33,860,000 after purchasing an additional 144,516 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Vaxcyte by 186.2% in the 3rd quarter. Principal Financial Group Inc. now owns 52,702 shares of the company’s stock worth $6,022,000 after purchasing an additional 34,287 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Vaxcyte by 70.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 593,523 shares of the company’s stock valued at $49,418,000 after purchasing an additional 246,049 shares during the period. 96.78% of the stock is currently owned by institutional investors.

Vaxcyte Price Performance

Shares of NASDAQ:PCVX opened at $70.77 on Friday. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of -15.38 and a beta of 1.02. Vaxcyte, Inc. has a 12 month low of $58.10 and a 12 month high of $121.06. The stock’s 50 day moving average price is $80.38 and its 200 day moving average price is $93.00.

Vaxcyte (NASDAQ:PCVX) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($1.02) EPS for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.14. On average, sell-side analysts expect that Vaxcyte, Inc. will post -4.21 EPS for the current year.

Insiders Place Their Bets

In other news, Director Teri Loxam sold 6,250 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $85.11, for a total transaction of $531,937.50. Following the completion of the sale, the director now directly owns 7,175 shares of the company’s stock, valued at $610,664.25. This trade represents a 46.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Andrew Guggenhime sold 8,000 shares of Vaxcyte stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $86.51, for a total value of $692,080.00. Following the completion of the transaction, the chief financial officer now owns 109,491 shares in the company, valued at $9,472,066.41. The trade was a 6.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,250 shares of company stock worth $3,840,018. 3.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Guggenheim reiterated a “buy” rating and issued a $160.00 target price on shares of Vaxcyte in a research note on Wednesday, March 12th. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price objective on shares of Vaxcyte in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group initiated coverage on shares of Vaxcyte in a research report on Friday, December 20th. They issued a “buy” rating and a $135.00 target price for the company. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Vaxcyte currently has an average rating of “Buy” and a consensus target price of $147.50.

Vaxcyte Company Profile

Vaxcyte, Inc, a clinical-stage biotechnology vaccine company, develops novel protein vaccines to prevent or treat bacterial infectious diseases. Its lead vaccine candidate is VAX-24, a 24-valent investigational pneumococcal conjugate vaccine for the prevention of invasive pneumococcal disease. The company also develops VAX-31 to protect against emerging strains and to help address antibiotic resistance; VAX-A1, a novel conjugate vaccine candidate to prevent disease caused by Group A Streptococcus; VAX-PG, a novel protein vaccine candidate targeting keystone pathogen responsible for periodontitis; and VAX-GI to prevent Shigella, a bacterial illness.